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v_wakonig
January 4, 2022
Solved

New to payroll

  • January 4, 2022
  • 2 replies
  • 0 views

I have recently set up Payroll with my upgraded Desktop 2021.

We etransfer employees their bi weekly pay. The bank groups the etransfers together.

When I download transactions from bank the amounts do not match due to the employees payroll being processed as 2 cheque payments?

Employee 1 cheque processed $964.85

Employee 2 cheque processed $322.99

Bank etransfer totals $1287.84 ( bank groups the transactions together)

Therefore I am unable to match the transactions.

How do I match to be able to reconcile my payroll accounts?

Thanks

Valerie

 

Best answer by NEVER

This is what I do:

 

Create a 'Bank' type account called Payroll Clearing.

Use the Payroll Clearing account (not your active Bank Chequing account) to create paycheques.

Once the Payroll Cheque run is complete, use the Write Cheques function (your Bank Chequing Account) to clear out the lumpsum balance from the Payroll Clearing account.

 

2 replies

T
Trish_T
January 6, 2022

Hi v_wakonig,

 

Welcome to Community!  Your banking is a vital part of your business and it's essential that you're able to reconcile your accounts with confidence.  QuickBooks Desktop provides you with a smooth process for matching your transactions in preparation.  I'd be happy to point you in the right direction so you can complete your QuickBooks goals!

 

When you're matching transactions with your statement, there'll be times when items are batched together that you'll need to review.  In this case, when you need to get more details of a specific transaction, you'll simply select it and then hit Go To or double click the item to see the full details.  Here's a helpful article to have on hand for reconciling an account.

 

Please feel free to reach back out if you have any other questions, or contact us if you'd like additional assistance with the reconciliation process.  We're glad to help!

 

N
NEVERAnswer
January 6, 2022

This is what I do:

 

Create a 'Bank' type account called Payroll Clearing.

Use the Payroll Clearing account (not your active Bank Chequing account) to create paycheques.

Once the Payroll Cheque run is complete, use the Write Cheques function (your Bank Chequing Account) to clear out the lumpsum balance from the Payroll Clearing account.

 

    V
    v_wakonigAuthor
    January 7, 2022

    Thank you for the easy solution.

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